The Rupee opened slightly weaker on Tuesday, weighed down by uncertainty over whether ?the U.S. and Iran can reach a diplomatic resolution to end ?the war, with likely importer hedging adding to the pressure. The currency climbed to a one-month ?high of 95.1175 before encountering importer-led dollar demand amid companies ?hedging future payables. The trader said that the rupee sustaining at around current levels ?would ?be difficult unless oil risks recede. Oil prices inched higher after tumbling in the previous session, with concerns persisting over Middle East supply disruptions on uncertainty over whether the U.S. and Iran can make a deal. U.S. President Donald ?Trump said on ?Sunday he was ?holding off on fresh attacks on Iran while talks continued. Iran, however, pushed back on Monday, with foreign ?ministry spokesperson Esmail Baghaei saying no negotiations with Washington ?were under ?way and no meetings had been scheduled. The yen held on to most of its intervention-driven gains ?on Tuesday, after last week's joint action by Tokyo and Washington to shore up the currency kept ?speculators wary of rebuilding bearish positions. The yen weakened slightly in early Asia trade and was down 0.1% at 157.35 per dollar, having touched a three-month high of 155.20 in the previous session, though it remained well above its 40-year low. Against the euro, the yen held near a more than eight-month top and last stood at 181.19, while sterling bought 211.60 yen. Against the greenback, ?the euro was little changed ?at $1.1511, having hit a 1-1/2-month ?peak of $1.1559 in the previous session, while sterling slipped 0.06% to $1.3427. The dollar index bounced from a 1-1/2-month low to 99.98. Oil prices rebounded 1% on Tuesday from a plunge in the previous session, fuelled by concerns that ?Middle East supply remains at risk as a diplomatic resolution to the U.S.-Iran war that has disrupted shipments still seems unlikely. Front-month Brent futures rose $1.12, or 1.3%, to $84.89 a barrel by 0355 GMT after dropping 7% in the previous session to a three-week low.......
The US dollar weakened sharply against other major currencies after data showed that the US economy suffered a record contraction in Apr-Jun, while jobless claims rose in the week ended Saturday also rose.The US unit also extended its decline globally on Thursday after Trump raised the possibility of delaying presidential election in the US, scheduled for November.European Stocks ended lower on Thursday due to mounting concern over sluggish economic recovery and a possible second wave of the COVID-19 pandemic.Germany reported its worst decline in GDP since 1970, with the Eurozone’s largest economy shrinking 10.1% quarter-on-quarter in Apr-Jun.Corporate earnings were high on investors' agenda on Thursday.In the US, Most share indices ended lower on Wednesday following bleak economic data.Lack of progress in talks between Congressional Democrats, Republicans and the White House on a new coronavirus aid package also weighed on sentiment.Gold futures settled lower on Thursday after nine consecutive days of gains, with the bullion retreating from a record rally as traders booked some profit.......